Park Avenue Securities LLC Buys 4,124 Shares of ING Groep (NYSE:ING)

Park Avenue Securities LLC boosted its stake in ING Groep (NYSE:INGGet Rating) by 12.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,877 shares of the financial services provider’s stock after purchasing an additional 4,124 shares during the quarter. Park Avenue Securities LLC’s holdings in ING Groep were worth $313,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Cambiar Investors LLC increased its stake in shares of ING Groep by 821.9% in the 2nd quarter. Cambiar Investors LLC now owns 3,275,409 shares of the financial services provider’s stock valued at $32,492,000 after acquiring an additional 2,920,134 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in ING Groep by 4,412.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after purchasing an additional 1,782,900 shares during the period. Goldman Sachs Group Inc. increased its stake in ING Groep by 27.1% in the second quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock valued at $77,882,000 after purchasing an additional 1,673,262 shares in the last quarter. FMR LLC raised its holdings in ING Groep by 29.8% in the second quarter. FMR LLC now owns 4,621,059 shares of the financial services provider’s stock worth $45,841,000 after purchasing an additional 1,060,586 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of ING Groep during the first quarter worth $9,905,000. Institutional investors and hedge funds own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ING. JPMorgan Chase & Co. upped their price objective on shares of ING Groep from €13.00 ($14.13) to €13.40 ($14.57) in a research report on Wednesday, December 7th. Deutsche Bank Aktiengesellschaft raised their price target on ING Groep from €15.00 ($16.30) to €16.00 ($17.39) in a research report on Wednesday, November 9th. Societe Generale decreased their price objective on ING Groep from €14.00 ($15.22) to €12.50 ($13.59) in a research report on Friday, November 4th. Royal Bank of Canada raised their target price on shares of ING Groep from €11.75 ($12.77) to €13.00 ($14.13) and gave the stock a “sector perform” rating in a report on Monday, November 7th. Finally, UBS Group upped their price target on shares of ING Groep from €15.00 ($16.30) to €15.80 ($17.17) in a report on Monday, November 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.91.

ING Groep Stock Up 1.4 %

NYSE ING opened at $13.38 on Monday. The firm’s 50 day moving average is $12.31 and its 200-day moving average is $10.42. The company has a market capitalization of $52.19 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.57. ING Groep has a 12-month low of $8.14 and a 12-month high of $15.97.

ING Groep (NYSE:INGGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). ING Groep had a net margin of 19.14% and a return on equity of 6.29%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.30 billion. As a group, sell-side analysts expect that ING Groep will post 1 EPS for the current year.

ING Groep Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, January 23rd. Investors of record on Tuesday, January 17th will be given a dividend of $0.074 per share. The ex-dividend date of this dividend is Friday, January 13th. This represents a yield of 4.6%. ING Groep’s dividend payout ratio (DPR) is presently 14.85%.

About ING Groep

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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